Although we specialise in tax for Australian expats, we also know that for many of us, when offered an international posting, there’s a lot more to worry about than expat tax returns in Australia and so in this article we’ll take a look at some of the more practical aspects for your family of your potential Aussie expat adventure.
With that in mind, we know from speaking with many Australian expats that their first thought is often “how will this affect my family?”.
If your partner and/or children are well settled at home, what are the risks of whisking them away overseas?
While it’s true that expat life poses many challenges, it can also present incredible opportunities for your children. Aside from the opportunities that you’ll be presented with career-wise, here are five reasons (nothing to do with work) why you should seriously consider making the move overseas with your family:
1. Learning another language
Learning another language is fun, exciting and opens up new worlds. Plus, when your children enter the workforce, they’ll have an advantage over their peers, especially if they’re interested in pursuing international careers.
2. Developing confidence
Changing schools, making new friends and adapting to another country might not be easy. However, once your children have conquered the change, they’ll have the benefit of a new-found confidence. If later in life, they consider school exchange, tertiary study overseas or an international promotion, they’ll have the resources to prepare themselves.
3. Open mindedness
By living in another culture, your children are highly likely to become more open-minded. Rather than knowing only their own way of life, they’ll learn cultural differences and alternative opinions. While, these can be taught through other means, such as the media and school lessons, there’s simply no substitute for firsthand experience.
4. Working together as a family
Given that the whole family will be adapting to a new country, this is an opportunity to learn to work together better than ever before. Many expats decide to involve their children directly, by giving them extra responsibilities. For example, before leaving, you could ask your child to identify various landmarks on the map, research what resources will and will not be available and research the nation’s history and background.
5. Building an international network
Chances are, the friends your children make as expats will become friends for life. When they’re over 18 and ready for independent travel, they’ll have an entire network ready to help, with places to stay and, quite possibly, employment possibilities.
Australian expats are generally unable to obtain specialist advice and services that they require from their domestic Australian accountant. Accordingly, Shane founded Expat Tax Services to provide Australian expats with access to specialist, quality advice at fair and reasonable prices (no hourly rates, fees quoted upfront with unlimited support included).
Receive the support and advice you need without having to take second-mortgage to pay your accountant's bill! Speak to Shane & the team at Expat Tax Services today.
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